The MDX Board of Directors has announced that it will give toll payers a chance to have a financial stake in their state governmental agency through their new Cash Back Toll Dividend Program.
"Our Board of Directors is making a pledge to our customers, to continue to operate this agency as efficiently as any major private sector corporation, while meeting its public obligations as a transportation agency. Toll revenues that we do not need to spend because of efficiency savings, do not belong to us, and we will return those monies to those customers who invested in our expressways in the first place--the daily commuter and daily commercial user,” said Maritza Gutierrez, MDX’s Chairperson.
Believed to be the first program of its kind in the nation, the MDX Board of Directors said after meeting its financial obligations, they will distribute the remaining dividends to frequent users. They will return all remaining toll revenues directly to the toll payer through a dividend payment proportionate to their investment in MDX infrastructure.
To qualify, business or individual customers would have to register each year, be a SunPass customer in good standing, and spend more than two dollars weekly, or $100 annually, in tolls on any of the MDX five expressways. Members who signed up this year for the MDX Advantage Program will be automatically enrolled. Extended sign-ups for the program take place July 13 through August 14, with a cash-back dividend check expected to arrive in mid-December.
“Our customers are the shareholders who have invested in financing MDX’s infrastructure program, so that our expressways will be safe, functional and less congested. When we closed our system this year so that each customer pays for his or her proportionate use of our expressways, we pledged to them that we would utilize their toll money prudently to complete the final reconstruction of State Road 836 within the next five years," said MDX’s Executive Director Javier Rodriguez.
The Board of Directors will take the final vote at their Board of Directors meeting on Tuesday.